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Rose with other US benchmarks as a US-Iran peace framework to reopen the Strait of Hormuz pushed crude oil prices lower.

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International

Anthropic Outlook Lifts Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures pointed moderately higher pre-bell Monday, as traders again waded into tech issues after weekend media reports on positive Q2 financial results from prominent AI modeler Anthropic.In the futures, the S&P 500 rose 0.2%, the Nasdaq inclined 0.6%, but the Dow Jones was off 0.1%.The VanEck Semiconductor fund (SMH) traded up 1.3% pre-bell.West Texas Intermediate crude oil traded up 0.6% at $81.94 a barrel in morning hours.On the earnings scene, retail behemoths Walmart (WMT), Target (TGT), Home Depot (HD), The TJX Companies (TJX), Lowe's (LOW), and Ross Stores (ROST) report results later this week.The economic calendar ahead is relatively light, although minutes from the Federal Reserve's latest policy session will be released Wednesday. The S&P Global composite purchasing managers index (PMI) is slated for a Friday post.Asian exchanges traded mostly higher overnight on strength in AI- and semiconductor-related issues, while European bourses inched north midday on the continent.On the economic calendar is the Empire State Manufacturing Index for August at 8:30 am ET, followed by the NAHB/Wells Fargo Housing Market Index for August at 10 am.In pre-market action, Bitcoin traded at $63,390, and 10-year US Treasuries offered 4.69%. Spot gold commanded $4,397 an ounce.

Dow JonesNasdaq CompositeS&P 500
Stocks Mostly Up Pre-Bell as Traders Await Fed Meeting Minutes, Retail Earnings
US Markets

Stocks Mostly Up Pre-Bell as Traders Await Fed Meeting Minutes, Retail Earnings

The benchmark US stock measures were mostly pointing higher before the opening bell Monday as traders await minutes of the Federal Reserve's last policy meeting and the latest quarterly results from some of the biggest retail companies.The S&P 500 rose 0.2% and the Nasdaq added 0.6% in premarket activity, while the Dow Jones Industrial Average edged down 0.1%. All three major indexes finished Friday trading in the red.The Fed is scheduled to post minutes of its July policy meeting Wednesday, which will be assessed for fresh insight on the central bank's monetary policy. At the meeting, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.Last week, the Bureau of Labor Statistics published benign consumer inflation data for July that lowered bets for a Fed interest-rate hike next month. Government data also showed that producer prices held steady last month, defying expectations for a monthly rise.Markets are currently pricing in a 69% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were down in premarket action, with the two-year rate retreating 1.3 basis points to 4.16% and the 10-year rate off 0.8 basis points to 4.69%.Retail giant Walmart (WMT) is scheduled to release its latest financial results later this week, along with Home Depot (HD), TJX (TJX), Lowe's (LOW), Target (TGT), Ross Stores (ROST) and BJ's Wholesale Club (BJ).On Friday, official data showed that retail sales unexpectedly decreased in July, registering the largest monthly drop in more than a year.West Texas Intermediate crude oil increased 0.8% to $83.08 a barrel before the open, while Brent gained 1.2% to $89.61.Iranian Foreign Minister Abbas Araghchi reportedly said over the weekend that Iran hasn't decided to resume talks with the US, according to CNBC. Shipping traffic through the Strait of Hormuz slowed over the weekend, with five vessels transiting the crucial waterway on Saturday and none on Sunday, Reuters reported Monday, citing shiptracking data from Kpler.Monday's economic calendar has the Empire State manufacturing index for August at 8:30 am ET, followed by the housing market index for the same month at 10 am.Shares of Broadcom (AVGO) rebounded 1.2% pre-bell after closing Friday trading with a 5.9% drop. Micron Technology (MU) advanced 3.4%, while Advanced Micro Devices (AMD) ticked up 1%. Sandisk (SNDK) inclined 5.1%.Gold nudged 0.3% higher to $4,452 per troy ounce, while bitcoin traded up 0.2% at $63,239.

Dow JonesNasdaq CompositeS&P 500$AMD$AVGO$BJ$HD$LOW$MU$ROST$SNDK$TGT$TJX$WMT
Asia Markets

US Equity Investors to Focus on Fed Policy Minutes, PMIs Alongside Trump's Move to Inflict Intense Economic Pain on Iran

US equity investors are expected to focus on macroeconomic data this week following recent soft prints that reduced the urgency for monetary policy tightening, while keeping an eye on any announcements that significantly ratchet up economic pain in Iran and quarterly earnings.* Economic data due this week includes the July minutes of the Federal Open Market Committee meeting, S&P Global manufacturing and services purchasing managers' indexes, industrial production, building permits and housing starts. Last week, both headline and core consumer and wholesale price inflation rates for July declined from a year ago, and retail sales slid unexpectedly in the month, the most since May 2025.* Watch for a potentially major escalation of trade and market tensions beginning this week, according to a note from Scotiabank late Friday. That's because US Treasury Secretary Bessent pledged to introduce "measures like have never been seen in the history of economic isolation of a country," referring to Iran.* Home Depot (HD), Analog Devices (ADI), TJX Companies (TJX), Lowe's Companies (LOW), Target (TGT), Walmart (WMT), Deere (DE), Ross Stores (ROST), NetEase (NTES) are among the companies reporting quarterly results next week.* The 60-day deadline for the conclusion of peace talks in the memorandum of understanding the US and Iran signed in June ended on Monday without any formal announcements so far to end the war.* Talks between Iran and Oman regarding the Strait of Hormuz are complex but continuing "in all seriousness," CNN reported, citing Iran's Foreign Ministry spokesman Esmaeil Baghaei on Monday.* Baghaei said a "transit route map" has been agreed upon, but a final agreement including a joint statement has not been finalized, CNN cited reporting from Tasnim. Referring to one of the reasons for the delay, Baghaei said some "malevolent parties" want the region to "always be in a state of conflict and chaos."

Dow JonesNasdaq CompositeS&P 500$ADI$DE$HD$LOW$NTES$ROST$TGT$TJX$WMT
Wire

S&P 500 Ekes Out Weekly Gain Amid Growing Probability of Fed Pause Extension

The Standard & Poor's 500 index rose 0.4% this week after cooling inflation and an unexpected drop in retail sales boosted the odds for a sixth straight monetary policy pause in September.The market benchmark ended the week at 7,785.76. The index is now up 3.8% quarter-to-date and 14% this year.The probability of the Federal Reserve extending its policy pause next month jumped after July's consumer and wholesale price inflation rates, both headline and core, declined and retail sales for the month unexpectedly slumped the most since May 2025. There's now a 67% chance that the Fed will leave interest rates unchanged, up from 56% a week ago, according to the CME FedWatch tool.Treasury Secretary Scott Bessent said on CNN that the US plans to announce measures on Iran next week that have "never been seen."Defense Secretary Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera reported.The energy sector in the S&P 500 had the largest percentage gain of the week, up 7.3%, followed by a 1.5% advance in utilities and 1% increases for both consumer staples and health care. Financials, industrials, real estate and tech also rose week to week.Phillips 66 (PSX) is expected to accelerate share repurchases in H2 this year, supported by ongoing balance sheet deleveraging, UBS said in a note. Separately, Phillips 66, Kinder Morgan (KMI), and HF Sinclair (DINO) said they have reached a final investment decision to move forward with a joint venture to build the $5 billion Western Gateway Pipeline system. Shares of Phillips 66 surged 15% this week.Three S&P 500 sectors that declined this week were consumer discretionary, communication services and materials, down 2%, 1% and 0.9%, respectively.Tapestry (TPR) shares tumbled 21% this week after the company set out a fiscal 2027 revenue outlook below the midpoint of Wall Street's forecast range, taking the shine off stronger-than-expected fiscal Q4 adjusted earnings and revenue.AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said in a report. BofA downgraded its rating on AppLovin stock to neutral from buy and lowered its price target to $400 from $430. Shares of Applovin slumped 9% this week.Home Depot (HD), Analog Devices (ADI), TJX Companies (TJX), Lowe's Companies (LOW), Target (TGT), Walmart (WMT), Deere (DE), Ross Stores (ROST), NetEase (NTES) are among the companies reporting quarterly results next week.Economic data due next week includes the July minutes of the Federal Open Market Committee meeting, S&P Global manufacturing and services purchasing managers' indexes, industrial production, building permits and housing starts.

S&P 500$ADI$APP$DE$DINO$HD$KMI$LOW$NTES$PSX$ROST$TGT$TJX$TPR$WMT
Update: S&P Logs Third Consecutive Weekly Gain Despite Pullback From Record High
US Markets

Update: S&P Logs Third Consecutive Weekly Gain Despite Pullback From Record High

(Updates with market moves at the end of the day, and other changes, if any.)The S&P 500 retreated Friday from an all-time peak in the previous session, following downbeat retail sales and consumer sentiment reports, but still logged its third consecutive weekly gain.The index fell 0.2% to close at 7,785.76. The Nasdaq Composite declined 0.3% to 26,729.16, snapping a two-day advance, while the Dow Jones Industrial Average edged down 0.2% to 53,732.41. Among sectors, healthcare led the laggards, while energy paced the gainers.This week, the S&P 500 gained 0.4%, while the Nasdaq added 0.1%, both marking their third weekly advance in a row. The Dow lost 0.6% following two straight weeks of gains.Retail sales in the US unexpectedly decreased last month, registering the largest monthly drop in more than a year, amid declines in spending on motor vehicles and at gas stations.US consumer sentiment fell in August after two straight monthly gains amid continued inflation concerns, while year-ahead price growth expectations rose, preliminary results of a University of Michigan survey showed Friday.The reports follow official data on Thursday that showed producer prices held steady last month, defying expectations for a monthly rise. Earlier in the week, the Bureau of Labor Statistics published benign consumer inflation data for July that lowered bets for a Federal Reserve interest-rate increase next month."American consumers took a breather last month, despite the tailwind from rising equity markets," Sal Guatieri, senior economist at BMO Capital Markets, said in a report, discussing the retail sales report. "This, together with a weaker jobs report and subdued core CPI inflation, raise the odds of the (Federal Open Market Committee) staying patient again in September."Markets are currently pricing in a 67% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were higher, with the 10-year yield rising 4.7 basis points to 4.69% and the two-year yield up 2.7 basis point at 4.17%.West Texas Intermediate crude oil was up 1.3% at $82.32 a barrel in Friday late-afternoon trade, while Brent advanced 1.7% to $88.51. Both benchmarks were on track for weekly gains following two consecutive weekly declines.In an interview with Newsmax, Treasury Secretary Scott Bessent said the US will continue its blockade of Iranian ports, according to CNBC."Crude continues to gyrate on headlines surrounding the Strait of Hormuz, with traders caught between expectations that an eventual agreement could release additional Gulf barrels and the reality that six months of disruption have left global inventories depleted," Saxo Bank said in a report on Friday.Shares of Applied Materials (AMAT) slumped 5.1%, the third-steepest decline on the S&P 500, after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.Reddit (RDDT) jumped nearly 13%, with the social media platform set to join the S&P 500 on Tuesday.Fox class B shares (FOX) rose 5.7%, among the best performers on the S&P 500, following a rating upgrade from Wells Fargo. Its class A shares (FOXA) advanced 5.5%.Spot gold climbed 0.6% to $4,374.30 per troy ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$FOX$FOXA$RDDT
Asia Markets

US Equity Indexes Mixed This Week After Soft Inflation Prints, Slumping Retail Sales Set to Restrain Fed Policy Hawks

US equity indexes were mixed this week as easing inflation and a drop in retail sales boosted the odds for a monetary policy pause in September, while the Trump administration signaled a pivot toward maximum economic pain on Iran.* The S&P 500 closed at 7,785.76 on Friday versus 7,709.08 a week ago. The Nasdaq Composite stood at about 26,729.16, compared with 26,348.02 a week earlier, and the Dow Jones Industrial Average ended lower at 53,732.41, versus 53,885.02 at the end of last week.* Among firms with market capitalizations exceeding $200 billion each, three of the 10 worst performers were in the equal-weighted Dow, according to data compiled by Finviz. The leader among the Dow laggards was Cisco (CSCO), down 8% this week, as fiscal Q4 services revenue missed expectations and adjusted product margin declined.* Sandisk (SNDK) said it expects sales to grow in the mid-to-high teens from fiscal 2028 through fiscal 2030. Wells Fargo and RBC Capital Markets lifted price targets for the company. Shares soared 35% this week.* Across the three indexes, consumer cyclicals, basic materials, and communication services led underperformers while energy and technology topped the gainers.* Both headline and core consumer and wholesale price inflation rates declined from a year ago in July.* Retail sales slid unexpectedly in July, the most since May 2025, after rising in the previous month.* Following the inflation and retail sales data, the probability of the Federal Reserve extending its policy pause in September stood at 67% Friday, up from 55% a week ago, according to the CME FedWatch tool. The remaining 33% likelihood was for a 25-basis-point increase, down from 44% a week earlier.* Treasury Secretary Scott Bessent said the US plans to unveil measures on Iran next week that have "never been seen," CNN reported. US Secretary of Defense Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera, a Middle Eastern broadcaster, reported.

Dow JonesNasdaq CompositeS&P 500$CSCO
Asia Markets

Update: US Equity Indexes Fall After Retail Sales Drop Most in 14 Months, Crude Oil Rises as Iran Warned Against Economic Pain

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes retreated after retail sales posted the steepest drop since May 2025, while crude oil rose amid the Trump administration's plans to impose unprecedented economic pain on Iran.The Nasdaq Composite fell 0.3% to 26,729.16, the S&P 500 slipped 0.2% to 7,785.76, and the Dow Jones Industrial Average declined 0.2% to 53,732.41 on Friday. Technology and consumer discretionary were among the steepest decliners, while energy led gainers.Retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was for 0.1% growth, according to a survey compiled by Bloomberg.The probability of the Federal Reserve extending its policy pause to September jumped to 68% by Friday afternoon, from 56% a week ago, according to the CME FedWatch tool, building on gains after data this week showed consumer and wholesale price inflation rates, both headline and core, declined year over year in July."For the Fed, coupled with a weaker-than-expected jobs report last month, and some indications of cooling inflation, albeit from extremely elevated levels, a more moderate consumer perpetuates the expectation of a steady pace of policy for some time," Lindsey Piegza said in a note. "While not entirely removed, the more recent slew of increasingly moderate data will mitigate the sense of urgency for the Fed to adjust policy higher."The University of Michigan's preliminary consumer sentiment index fell to 51.0 in August from 55.2 in July, below expectations for a much smaller decrease to 55.0 in a Bloomberg-compiled survey.Respondents saw one-year inflation expectations at 4.3%, up from 4.2% in July, while five-year inflation expectations remained at 3.3% for the third straight month.Most US Treasury yields rose, with the 10-year yield up 4.3 basis points to 4.68%. The two-year marched 2.5 basis points higher to 4.17%.The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration's effort to force Tehran's capitulation after almost six months of war, according to a Bloomberg report."Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," Bessent was cited as saying in an interview with Newsmax on Thursday. The move will be part of a "one-two punch" that includes the continued blockade of Iran's ports, he added.Transit through the Strait of Hormuz appeared to grind to a near standstill on Friday after two more ships were attacked at the chokepoint, Reuters reported. The Abu Dhabi National Oil Company from the United Arab Emirates said its vessels were attacked on Thursday evening, the news report said, adding that the UAE government blamed Iran, which made no immediate comment.Crude oil futures rose, with the front-month US West Texas Intermediate contract up 1.3% to $82.32 per barrel. The global benchmark North Sea Brent jumped 1.6% to $88.50 per barrel.Applied Materials (AMAT) shares retreated 5.1%, among the worst performers on the S&P 500 and the Nasdaq, after the company reported fiscal Q4 earnings late Thursday.Sandisk (SNDK) shares jumped 7.4%, among the top gainers on the S&P 500 and the Nasdaq, after Wells Fargo and RBC lifted their price targets for the company.Gold futures edged up 0.3% to $4,431.5, while silver futures slipped 0.2% to $64.88.

Dow JonesNasdaq CompositeS&P 500$AMAT$SNDK
Japan

US Equity Markets End Lower Amid Weak Retail Sales Data, Rise in Crude Oil Prices

US equity indexes ended lower Friday amid a drop in retail sales and after crude oil prices rose following the US plan to impose unprecedented economic measures against Iran.* Retail sales fell 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. This compares with 0.1% growth expected in a Bloomberg analyst survey.* The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration's effort to force Tehran's capitulation after almost six months of war, according to a Bloomberg report.* September West Texas Intermediate crude oil rose $1.05 to settle at $82.30 per barrel, while October Brent crude, the global benchmark, was last seen up $1.42 at $88.49.* Nebius (NBIS) has signed an agreement with Vantage Data Centers to deploy high-density artificial intelligence infrastructure powered by Nvidia (NVDA) at Vantage's CWL1 data center campus in Wales, the companies said Thursday. Shares of Nebius were up about 8.8%, the top gainer on the Nasdaq.* Applied Materials (AMAT) shares were down about 5.2%, among the worst performers on the S&P 500, after the company reported late Thursday lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.

Dow JonesNasdaq CompositeS&P 500$AMAT$NBIS$NVDA
Japan

Update: US Equity Indexes Fall After Retail Sales Drop Most in 14 Months, Crude Oil Rises as Iran Warned Against Economic Pain

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell after retail sales posted the steepest drop since May 2025, and crude oil rose amid the Trump administration's plans to impose unprecedented economic pain on Iran.The Nasdaq Composite fell 0.4% to 26,704.3, the S&P 500 slipped 0.2% to 7,785.4 and the Dow Jones Industrial Average declined 0.1% to 53,770.8 ahead of Friday's close.Retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was 0.1% growth, according to a survey compiled by Bloomberg.The probability of the Federal Reserve extending its policy pause to September jumped to 67% by Friday afternoon, from 56% a week ago, according to the CME FedWatch tool, building on gains after data this week showed consumer and wholesale price inflation rates, both headline and core, declined year over year in July.The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration's effort to force Tehran's capitulation after almost six months of war, according to a Bloomberg report."Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," Bessent was cited as saying in an interview with Newsmax on Thursday. The move will be part of a "one-two punch" that includes the continued blockade of Iran's ports, he added.Crude oil futures rose, with the front-month US West Texas Intermediate contract climbing 1.4% to $82.36 per barrel and the global benchmark North Sea Brent jumping 1.7% to $88.54 per barrel.

Dow JonesNasdaq CompositeS&P 500
Update: Equities Lower Intraday After Retail Sales, Consumer Sentiment Reports
US Markets

Update: Equities Lower Intraday After Retail Sales, Consumer Sentiment Reports

(Updates with latest market prices and developments.)US benchmark equity indexes fell intraday as traders weighed retail sales data and a downbeat consumer sentiment report.The Nasdaq Composite was down 0.4% at 26,691.4 after midday Friday, while the Dow Jones Industrial Average edged down 0.2% to 53,731.4. The S&P 500, which reached an all-time high in the previous session, slipped 0.2% to 7,782.6.Among sectors, technology led the laggards, while energy paced the gainers.Retail sales in the US unexpectedly decreased last month, registering the largest monthly drop in more than a year, amid declines in spending on motor vehicles and at gas stations.US consumer sentiment fell in August after two straight monthly gains amid continued inflation concerns, while year-ahead price growth expectations rose, preliminary results of a University of Michigan survey showed Friday.The reports follow official data on Thursday that showed producer prices held steady last month, defying expectations for a monthly rise. Earlier in the week, the Bureau of Labor Statistics published benign consumer inflation data for July that lowered bets for a Federal Reserve interest-rate increase next month.Markets are currently pricing in a 67% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were higher intraday, with the 10-year yield rising 4.9 basis points to 4.69% and the two-year yield up 1.7 basis point at 4.16%.West Texas Intermediate crude oil was up 0.8% at $81.88 a barrel intraday, while Brent advanced 1.1% to $88.01. Both benchmarks were on track for weekly gains following two consecutive weekly declines.In an interview with Newsmax, Treasury Secretary Scott Bessent said the US will continue its blockade of Iranian ports, according to CNBC."Crude continues to gyrate on headlines surrounding the Strait of Hormuz, with traders caught between expectations that an eventual agreement could release additional Gulf barrels and the reality that six months of disruption have left global inventories depleted," Saxo Bank said in a report on Friday.Shares of Applied Materials (AMAT) were down 4.8% intraday, the second-steepest decline on the S&P 500, after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.Reddit (RDDT) jumped nearly 12%, with the social media platform set to join the S&P 500 on Tuesday.Fox class A and B shares (FOXA, FOX) were both up 5%, among the best performers on the S&P 500, following a rating upgrade from Wells Fargo.Spot gold climbed 0.8% to $4,386.27 per troy ounce, while silver was little changed at $65.01 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$FOX$FOXA$RDDT
Asia Markets

Exchange-Traded Funds Mixed, US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM rose and IVV edged lower. Actively traded Invesco QQQ Trust (QQQ) fell 0.4%.US equity indexes fell after retail sales unexpectedly slumped in July, registering the largest monthly drop since May 2025.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose 1.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 0.6%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) also declined.The State Street SPDR S&P Semiconductor (XSD) added 0.7%, and iShares Semiconductor (SOXX) slipped 0.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) eased 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 0.4%.CommoditiesCrude oil rose 0.9%, and the United States Oil Fund (USO) added 0.7%. Natural gas gained 1%, and the United States Natural Gas Fund (UNG) was up 0.6%.Gold on Comex added 0.5%, and the State Street SPDR Gold Shares (GLD) was up 0.8%. Silver gained 0.2%, and iShares Silver Trust (SLV) was up 0.7%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was up 0.1%. The Vanguard Consumer Staples ETF (VDC) rose fractionally, and iShares Dow Jones US Consumer Goods (IYK) added 0.4%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was down 0.2%. VanEck Retail ETF (RTH) fell fractionally, and the State Street SPDR S&P Retail (XRT) shed 0.4%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) shed 0.6%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were lower as well. IShares Biotechnology ETF (IBB) fell 0.9%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 0.4%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also slightly higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 0.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) lost 0.5%, ProShares Ether ETF (EETH) was down 0.4%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) dipped 1.4%.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH
Asia Markets

Update: US Equity Indexes Decline as Retail Sales Drop Most in 14 Months, Crude Oil Advances on Worsening Iran Geopolitics

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell after retail sales unexpectedly slumped in July, posting the largest monthly drop since May 2025, and crude oil rose amid the Trump administration's plans to impose unprecedented economic pain on Iran.The Nasdaq Composite fell 0.5% to 26,676.1, the S&P 500 slipped 0.2% to 7,780.2 and the Dow Jones Industrial Average declined 0.3% to 53,707.5 after midday Friday. Technology, healthcare and consumer discretionary were among the steepest decliners, while energy led gainers.Retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was 0.1% growth, according to a survey compiled by Bloomberg."American consumers took a breather last month, despite the tailwind from rising equity markets," BMO Capital Markets Senior Economist Sal Guatieri said in a separate note. "This, together with a weaker jobs report and subdued core (consumer price index) inflation, raise the odds of the (Federal Open Market Committee) staying patient again in September."The probability of the Federal Reserve extending its policy pause to September jumped to almost 70% by Friday afternoon, from 56% a week ago, according to the CME FedWatch tool, building on gains after data this week showed headline and core consumer and wholesale price inflation rates declined year over year in July.The University of Michigan's preliminary consumer sentiment index fell to 51.0 in August from 55.2 in July, below expectations for a much smaller decrease to 55.0 in a Bloomberg-compiled survey.Respondents saw one-year inflation expectations at 4.3%, up from 4.2% in July, while five-year inflation expectations remained at 3.3% for the third straight month.Most US Treasury yields rose, with the 10-year yield up 5.1 basis points to 4.69%. The two-year yield climbed 1.9 basis points to 4.16%.Treasury Secretary Scott Bessent said the US plans to announce measures on Iran next week that have "never been seen," CNN reported. US Secretary of Defense Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera, a Middle Eastern broadcaster, reported.Transit through the Strait of Hormuz appeared to grind to a near standstill on Friday after two more ships were attacked at the chokepoint, Reuters reported. The Abu Dhabi National Oil Company from the United Arab Emirates said its vessels were attacked Thursday evening, the news report said, adding that the UAE government blamed Iran, which made no immediate comment.Crude oil futures rose, with the front-month US West Texas Intermediate contract climbing 0.9% to $81.96 per barrel and the global benchmark North Sea Brent jumping 1.3% to $88.05 per barrel.Applied Materials (AMAT) shares retreated 5%, one of the worst performers on the S&P 500 and the Nasdaq, after the company reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.Sandisk (SNDK) shares jumped 6.7%, among the top gainers on the S&P 500 and the Nasdaq, after Wells Fargo and RBC lifted their price targets for the company.Gold futures advanced 0.5% to $4,440.1, and silver futures edged up less than 0.1% to $65.03.

Dow JonesNasdaq CompositeS&P 500$AMAT$SNDK
Japan

Update: US Equity Indexes Decline as Retail Sales Drop Most in 14 Months

(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.)US equity indexes fell after retail sales unexpectedly slumped in July, registering the largest monthly drop since May 2025.The Nasdaq Composite fell 0.4% to 26,702.5, the S&P 500 slipped 0.2% to 7,787.5 and the Dow Jones Industrial Average declined 0.2% to 53,730.7 after midday Friday.Retail sales slid 0.6% amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was 0.1% growth, according to a survey compiled by Bloomberg."American consumers took a breather last month, despite the tailwind from rising equity markets," BMO Capital Markets Senior Economist Sal Guatieri said in a separate note. "This, together with a weaker jobs report and subdued core (consumer price index) inflation, raise the odds of the (Federal Open Market Committee) staying patient again in September."The University of Michigan's preliminary consumer sentiment index fell to 51.0 in August from 55.2 in July, below expectations for a much smaller decrease to 55.0 in a Bloomberg-compiled survey.Respondents saw one-year inflation expectations at 4.3%, up from 4.2% in July, while five-year inflation expectations remained at 3.3% for the third straight month.Treasury Secretary Scott Bessent said the US plans to announce measures on Iran next week that have "never been seen," CNN reported. US Secretary of Defense Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil contract edged up 0.4% to $81.57 per barrel and the global benchmark North Sea Brent climbed 0.7% to $87.69 per barrel.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday Amid Retail Sales Data

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.3% in Friday's premarket activity, amid July retail sales data and rising oil prices.US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures advancing 0.2% before the start of regular trading.US retail sales declined by 0.6% in July, compared with the expectation for a 0.1% increase in a survey compiled by Bloomberg and following the previous month's revised 0.2% increase.The business inventories data for June and the University of Michigan's preliminary consumer sentiment reading for August will be released at 10:00 am ET.In premarket action, bitcoin was down by 0.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.29% lower, Ether ETF (EETH) retreated 0.65%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.01% lower.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.23%, the Vanguard Health Care Index Fund (VHT) was down 1.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was inactive as well.Heartflow (HTFL) stock advanced 24.8% after the company reported overnight a narrower-than-anticipated Q2 loss and a surge in revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) rose 0.38%, while the Vanguard Industrials Index Fund (VIS) was 0.5% higher and the iShares US Industrials ETF (IYJ) was flat.York Space Systems (YSS) stock was down more than 11.4% after the company reported a wider Q2 loss and cut its 2026 revenue guidance.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) fell 0.09%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.29%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.2% higher.Nu (NU) shares were up 15.3% after the company reported overnight a year-over-year surge in Q2 net income and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Reddit (RDDT) advanced by 11% in pre-bell activity a day after S&P Dow Jones Indices said Reddit will join the S&P 500 before the opening of trading on Aug. 18.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 0.4%, the iShares US Technology ETF (IYW) was 0.6% higher, and the iShares Expanded Tech Sector ETF (IGM) was down 0.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.9% higher, while the iShares Semiconductor ETF (SOXX) rose by 0.3%.Sandisk (SNDK) shares were up more than 6% after Wells Fargo and RBC lifted their price targets on the company.EnergyThe iShares US Energy ETF (IYE) was up 0.4%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.3%.Energy Fuels (UUUU) stock was up more than 1% before the market opened after BMO Capital initiated the company with an outperform rating.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.6% to $81.71 per barrel on the New York Mercantile Exchange. Natural gas was up 1.3% at $2.76 per 1 million British Thermal Units. The United States Oil Fund (USO) gained 0.5%, while the United States Natural Gas Fund (UNG) was 1.2% higher.Gold futures for November were up by 0.2% to $4,429.90 an ounce on the Comex. Silver futures advanced 0.2% to $65.12 an ounce. SPDR Gold Shares (GLD) gained by 0.5%, and the iShares Silver Trust (SLV) was 0.8% higher.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GLD$HTLF$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NU$PMR$QQQ$RDDT$RTH$SLV$SNDK$SOXX$SPY$UNG$USO$UUUU$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$YSS
Asia Markets

Update: US Equity Futures Mixed Pre-Bell Friday Following Record-High Overnight Close for S&P 500

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mixed pre-bell Friday after a record-high overnight close for the S&P 500.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.3% higher.The S&P 500 hit an intraday all-time high of 7,816.70 on Thursday before closing at 7,798.99, which was also an all-time high.US Defense Secretary Pete Hegseth said the US can keep the naval blockade on Iran "indefinitely," according to multiple media reports. US Treasury Secretary Scott Bessent said that the US planned to apply measures on the Middle Eastern nation that have "never been seen" before, including economic isolation, according to reports that cited an interview on Newsmax.Oil prices were slightly higher, with front-month global benchmark North Sea Brent crude down 0.1% at $86.97 per barrel and US West Texas Intermediate crude was flat at $81.22 per barrel.US retail sales fell 0.6% in July, following a 0.2% gain in the prior month and compared with expectations for a 0.1% increase in a survey compiled by Bloomberg.The University of Michigan consumer sentiment index for August, slated for 10 am ET, is expected at 55.0, down from 55.2 previously.In other world markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.In equities, SpaceX (SPCX) stock was up 1.3% after company founder and Tesla (TSLA) CEO Elon Musk disclosed beneficial ownership of 6.42 billion SpaceX shares as of June 30, representing 48.4% of the company, in a regulatory filing. A Reuters report also said that Alphabet (GOOG, GOOGL) held 551.2 million shares of SpaceX valued at about $94.2 billion at the end of Q2.Uber Technologies (UBER) shares rose 2.3% after the company and Pony.ai (PONY) said late Thursday that they expanded their partnership to deploy over 2,000 robotaxis across Europe. Reddit (RDDT) stock was up more than 11% after S&P Dow Jones Indices said Thursday that the company is replacing AvalonBay Communities (AVB) in the S&P 500 prior to the opening of trading on Aug. 18.On the losing side, Applied Materials (AMAT) shares fell 6% after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply.

Dow JonesNasdaq CompositeS&P 500$AMAT$AVB$GOOG$GOOGL$PONY$RDDT$SPCX$TSLA$UBER
Stocks Mostly Up Pre-Bell as Investors Await Retail Sales Report, Assess Inflation Data
US Markets

Stocks Mostly Up Pre-Bell as Investors Await Retail Sales Report, Assess Inflation Data

The benchmark US stock measures were mostly pointing higher before the open Friday as investors await the latest retail sales report and digest fresh wholesale inflation data that pointed to easing price pressures.The S&P 500 edged up 0.1% and the Nasdaq added 0.2% in premarket activity, while the Dow Jones Industrial Average decreased 0.1%. The indexes finished the previous trading session in the green, with the S&P 500 reaching an all-time intraday high.The retail sales report for July is scheduled to be released at 8:30 am ET.The report comes after official data on Thursday showed that producer prices held steady last month, defying expectations for a monthly rise, amid declining energy costs. Earlier in the week, the Bureau of Labor Statistics shared benign consumer inflation data for July that lowered bets for a Federal Reserve interest-rate increase next month."While prices are still rising and inflation remains well above the (Federal Open Market) Committee's 2% target, the slightly slower pace of increase underscores hope earlier pressures from a global energy shock are already easing," Stifel said in a report.Markets are currently pricing in a 69% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were trending higher in premarket action, with the two-year rate rising 0.2 basis points to 4.14% and the 10-year rate gaining 1.2 basis points to 4.65%.In an interview with Newsmax on Thursday, Treasury Secretary Scott Bessent said the US plans to apply economic measures on Iran that "have never been seen in the history of economic isolation on a country," according to multiple media outlets. Bessent said the US will continue its blockade of Iranian ports.Defense Secretary Pete Hegseth reportedly said Thursday that the US military can keep the naval blockade on Iran going "indefinitely," according to CNBC.West Texas Intermediate crude oil inclined 0.7% to $81.82 a barrel before the opening bell, while Brent nudged 0.2% higher to $87.27.Shares of Applied Materials (AMAT) fell 5.6% pre-bell after the semiconductor-equipment manufacturer reported lower free cash flow for the first nine months of the fiscal year as capital expenditures climbed sharply. Reddit (RDDT) jumped 12%, with the social media platform set to join the S&P 500 on Tuesday.Friday's economic calendar also has the preliminary University of Michigan's consumer sentiment report for August at 10 am, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm.Gold slipped 0.3% to $4,405 per troy ounce, while bitcoin declined 0.9% to $62,785.

Dow JonesNasdaq CompositeS&P 500$AMAT$RDDT
Japan

US Equity Futures Mixed Pre-Bell Friday Following Record-High Overnight Close for S&P 500

US equity futures were mixed pre-bell Friday after a record-high overnight close for the S&P 500.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.2% higher.The S&P 500 hit an intraday all-time high of 7,816.70 on Thursday before closing at 7,798.99, which was also an all-time high.US Defense Secretary Pete Hegseth said the US can keep the naval blockade on Iran "indefinitely," according to multiple media reports. US Treasury Secretary Scott Bessent said that the US planned to apply measures on the Middle Eastern nation that have "never been seen" before, including economic isolation, according to reports that cited an interview on Newsmax.Oil prices were slightly higher, with front-month global benchmark North Sea Brent crude up 0.1% at $87.10 per barrel and US West Texas Intermediate crude 0.3% higher at $81.50 per barrel.The July retail sales report, slated for 8:30 am ET, is forecast to show a 0.1% increase following a 0.2% gain in the previous month, according to estimates compiled by Bloomberg.The University of Michigan consumer sentiment index for August, slated for 10 am ET, is expected at 55.0, down from 55.2 previously.

Dow JonesNasdaq CompositeS&P 500
International

Oil, Earnings, Retail Sales Outlook Cap Wall Street Pre-Bell; Asia Up, Europe Flt

Wall Street futures pointed modestly higher pre-bell Friday, as the waning earnings season and the apparently unchanged impasse in the Persian Gulf provided few catalysts for traders.In the futures, the S&P 500 rose 0.1%, while Nasdaq inclined 0.2%, after both indices closed at all-time record highs on Thursday. The Dow Jones was off 0.2%.The Russell 2000 index, a gauge of US small caps, was flat in the futures pre-bell, after also closing at a new zenith overnight.West Texas Intermediate crude oil traded up 0.3% at $81.53, in morning hours.Investors await the July retail sales report from Washington, slated for an 8:30 am ET release, and sure to be plumbed for clues to consumer resilience in the face of higher energy bills.Asian exchanges traded unevenly higher overnight, with tech shares pushing Tokyo and Seoul into the green.European bourses tracked sideways midday on the continent.On the economic calendar, in addition to the retail sales release, is the June business inventories bulletin, and the University of Michigan August consumer sentiment report, both at 10 am ET.The weekly Baker Hughes domestic oil-and-gas rig count posts at 1 pm.In pre-market action, bitcoin traded at $62,772, and 10-year US Treasuries offered 4.65%. Spot gold commanded $4,349 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Update: US Equity Indexes Rise After Soft Wholesale Price Inflation Print Boosts Odds of Fed Policy-Pause Extension

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes rose, with the S&P 500 breaking records amid gains in growth sectors, after a soft producer price inflation report raised the likelihood of a sixth straight monetary policy pause in September.The Nasdaq Composite rose 0.8% to 26,803.03, and the S&P 500 climbed 0.7% to 7,798.99 on Thursday. The Dow Jones Industrial Average edged up 0.1% to 53,839.99, clawing out of intraday declines. The S&P 500 hit 7,816.70, its highest intraday level ever.Communication services and technology were among the top gainers, while materials led decliners.Among companies with market capitalizations exceeding $200 billion each, eight of the top 10 by returns were in the technology sector Thursday, according to data compiled by Finviz. Sandisk (SNDK), which led the pack with a 14% surge, said it expects revenue to grow in the mid-to-high teens over fiscal 2028 through fiscal 2030.Cisco slumped 8.4%, one of the worst performers in the Dow, the S&P 500 and the Nasdaq. The tech giant reported flat fiscal Q4 services revenue at $3.79 billion, missing the FactSet-polled consensus of $3.81 billion. On a non-GAAP basis, product gross margin fell to 64.8% from 67.5% a year ago, weighing on total gross margin.The Producer Price Index held steady in July, following a 0.1% decrease in June, versus the 0.2% gain expected in a Bloomberg-compiled survey. Energy prices fell by 3.1% in the month amid a 9.8% slide in natural gas liquids, a 6.7% slump in diesel fuel, and a 5.7% drop in gasoline prices. Excluding food and energy, core PPI climbed 0.2%, still below the 0.3% gain anticipated and a 0.4% increase in June.Annually, PPI was up 4.7% in July, and core PPI increased by 4.2%, both slowing from June.The producer prices data does potentially mitigate "the sense of urgency for the Fed to firm its policy stance, at least in the nearer term, particularly in the aftermath of a weaker-than-expected July employment report," Lindsey Piegza, Stifel's Chief Economist, said in a research note.Richmond Federal Reserve President Tom Barkin (non-voter) said uncertainty remains regarding the path of inflation and whether rate increases will be needed to bring it down to the 2% goal or if it will slow on its own.US Treasury yields fell, with the 10-year yield down 4.3 basis points to 4.65%. The two-year yield dropped five basis points to 4.15%.The probability of the Federal Reserve extending its policy pause to September climbed to 65% late Thursday, from 59% a day ago and 45% a week earlier, according to the CME FedWatch tool.Meanwhile, the front-month US West Texas Intermediate crude oil contract dropped 2.6% to $81.08 per barrel, and global benchmark North Sea Brent declined 2.4% to $86.89 per barrel as traders weighed a downbeat demand-supply dynamic and a continuing stalemate in the Iran war.US commercial crude oil inventories increased by a staggering 17.4 million barrels in the week ended Aug. 7, the Energy Information Administration said in its weekly report on Wednesday. On the same day, the International Energy Agency projected global demand to contract by 1.6 million barrels per day this year, steeper than the 1 million b/d drop seen in July.US Secretary of Defense Pete Hegseth said that the military, by rotating its aircraft carriers, can maintain its blockade on Iran "indefinitely," Al Jazeera, a Middle Eastern broadcaster, reported. President Donald Trump and his top officials are returning to a playbook of relying on a steady increase in economic sanctions and a naval blockade to stifle Iran's oil exports, Bloomberg reported.This comes as Iran's military rejected US claims that vessels are passing through the Strait of Hormuz, saying no ship can pass without its permission, the Al Jazeera report said.

Dow JonesNasdaq CompositeS&P 500$CSCO$SNDK
Update: S&P 500 Rises to Record as Producer Inflation Cools
US Markets

Update: S&P 500 Rises to Record as Producer Inflation Cools

(Updates with market moves after the close.)The S&P 500 rose to a record on Thursday as traders digested another tame inflation report.The index gained 0.7% to settle at 7,798.99 after reaching an all-time intraday high of 7,816.7. The Nasdaq Composite climbed 0.8% to 26,803.03, and the Dow Jones Industrial Average edged up 0.1% to 53,839.99.Most sectors ended higher, led by communication services, while materials posted the steepest drop.US producer prices held steady in July, defying expectations for a monthly rise, as energy costs continued to decline, Bureau of Labor Statistics data showed. The report follows Wednesday's benign consumer inflation numbers that further lowered bets for a Federal Reserve interest-rate increase next month."While prices are still rising and inflation remains well above the (Federal Open Market) Committee's 2% target, the slightly slower pace of increase underscores hope earlier pressures from a global energy shock are already easing," Stifel said in a report. "This won't necessarily remove, but it does potentially mitigate, the sense of urgency for the Fed to firm its policy stance, at least in the nearer term, particularly in the aftermath of a weaker-than-expected July employment report."As of Thursday, markets are pricing in a 65% probability that the Fed will keep its benchmark rate steady next month, compared with 59% on Wednesday, according to the CME FedWatch tool. The odds that the US central bank will lift rates by 25 basis points fell to 35% from 41%.Richmond Fed President Tom Barkin offered contrasting views on the inflation outlook on Thursday, saying it's unclear whether the central bank should boost rates to guide inflation back to its 2% target.US Treasury yields were lower, with the 10-year yield down 4.3 basis points at 4.65% and the two-year yield falling five basis points to 4.15%.West Texas Intermediate crude dropped 2.4% to $81.27 a barrel in late-afternoon trading, while Brent shed 2.2% to $87.02.In a social media post on Wednesday, President Donald Trump said the US has "total control" over the Strait of Hormuz.Iranian officials reportedly said earlier in the week that Hormuz, a key chokepoint for crude flows, will remain closed as long as the US does not accept Tehran's conditions, including a permanent end to the conflict and compensation for war damages.In company news, Sandisk (SNDK) shares jumped 14%, the second-largest gain on the S&P, after the semiconductor company said it expects revenue to grow at a mid-to-high-teens rate from fiscal 2028 through fiscal 2030.Workday (WDAY) shares surged 18%, the top gainer on the S&P. The company is in talks to be acquired by private equity firm Silver Lake, Reuters reported, citing people familiar with the matter.Cisco Systems (CSCO) shares slumped 8.4%, the biggest drop on the Dow, a day after the networking equipment maker reported a decline in adjusted gross margin.Tapestry (TPR) shares tumbled 16%, the steepest fall on the S&P. The company provided a full-year outlook below Wall Street's estimates at the midpoint.Spot gold fell 1.4% to $4,348.92 per troy ounce, while silver lost 1.8% to $64.54 per ounce.

Dow JonesNasdaq CompositeS&P 500$CSCO$SNDK$TPR$WDAY

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